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The Washington Post reports that "beleaguered" Sears Holdings has announced its intention to close yet another 20 stores, bringing to more than 260 the number of Sears and Kmart stores that it has said it will close this year.

The story notes that "Sears Holdings said it would close 18 Sears stores ... and two Kmart stores, all of which are owned by Seritage Growth Properties, a real estate investment trust that in some cases has effectively become Sears’s landlord.
Hedge fund billionaire Eddie Lampert is the chairman of Seritage and Sears, an arrangement that has resulted in at least one shareholder lawsuit."

And, it goes on: "The relationship between Sears and Seritage has raised concerns among Sears shareholders. Earlier this year, Lampert and Sears’s board of directors paid $40 million to settle a lawsuit alleging that Lampert had tried to siphon off the company’s best real estate by selling it to Seritage. Sears shareholders argued that the 'highly conflicted transaction' would probably “plunge the company into insolvency."
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